Under Pradhan Mantri Jan Aushadhi Yojana (PMJAY), the central government will open 3,000 Jan Aushadhi Stores (JAS) pan-India by the end of this fiscal to make quality drugs available at affordable prices, parliament was told on Tuesday, July 2.

“In order to open JAS proposed within government hospital premises, a one-time financial assistance is provided to the extent of Rs 2.50 lakh and the margin available for the retailers is 20 per cent so as to ensure a reasonable level of profitability for them,” Minister of State for Chemicals and Fertilisers Mansukh L. Mandaviya told the Lok Sabha in a written reply.

In addition to the retailers’ margin up to 20 percent, a 15 percent incentive on monthly sales subject to a ceiling of Rs 10,000 a month is also given for stores opened outside the government hospitals, he said.

For stores opened in northeastern states and Maoist-affected and tribal areas, the rate of incentive is 15 percent of monthly sales subject to a ceiling of Rs. 15,000 per month.

State governments, local bodies, individuals entrepreneurs, pharmacists, doctors, registered medical practitioners, NGOs, trusts, social and charitable institutions, private hospitals and self-help groups or those with B.Pharma degree or D.Pharma diploma are eligible for opening of the stores.

Applicant should have own or hired space of minimum 120 square feet. (IANS)

“This agreement will stimulate the flow of investment, technology and personnel from India to Hong Kong Special Administrative Region and vice versa, prevent double taxation and provide for the exchange of information between the two contracting parties,” the statement said. “It will improve transparency in tax matters and will help curb tax evasion and tax avoidance,” it added. IANS